Extension on GST Return Filing dates: GST Council

In the 23rd meeting of GST, headed by the Finance minister Arun Jaitley has recommended the facilitative measures for the tax payers as well.

It is recommended that all the tax payers are required to file return in a particular date as reads the current press release

All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018.

Also to file the above mentioned form, the tax payers would be divided into two categories.

Taxpayers with annual aggregate turnover up to Rs. 1.5 crore need to file GSTR – 1 on quarterly basis as per following frequency.

Period

Dates

Jul- Sep

31st Dec 2017

Oct- Dec

15th Feb 2018

Jan- Mar

30th April 2018

Taxpayers with annual aggregate turnover more than Rs. 1.5 crore need to file GSTR – 1 on monthly basis as per following frequency.

Period

Dates

Jul- Oct

31st Dec 2017

Nov

10th Jan 2018

Dec

10th Feb 2018

Jan

10th Mar 2018

Feb

10th Apr 2018

Mar

10th May 2018

The committee of officers are yet to decide upon the time period for filing these two GST returns. However, filing of GSTR – 1 will continue for the entire period without requiring filing of GSTR – 2 & GSTR – 3 for the previous month / period.

Also, a large number of tax payers were unable to file their GSTR – 3B on time, and had to pay fine charged. Hence the committee has come to a decision that in such cases the fee will be re – credited to their Electronic Cash Ledger.

What are the benefits of service providers?

In the meeting, the tax fitment committee has decided that the exporters of Nepal and Bhutan those who were exempted from GST, will now be eligible for claiming Input Tax Credit.

In the previous GST council meeting, the service providers with annual income of Rs. 20 lakh (Rs. 10 lakh for J and K) were exempted from obtaining registration even if they are making inter – State taxable supplies of services. In the meeting took place on 10th November 2017, the council has decided to exempt such suppliers providing services through an e – commerce platform from obtaining compulsory registration provided their aggregate turnover does not exceed twenty lakhs rupees.

Few dates to file the returns have also been extended, read the table below to know the extended dates:

S. No.

FORM and Details

Original due date

Revised due date

1

GST ITC-04 for the quarter July-September, 2017

25.10.2017

31.12.2017

2

GSTR-4 for the quarter July-September, 2017

18.10.2017

24.12.2017

3

GSTR-5 for July, 2017

20.08.2017 or 7 days from the last date of registration whichever is earlier

11.12.2017

4

GSTR-5A for July, 2017

20.08.2017

15.12.2017

5

GSTR-6 for July, 2017

13.08.2017

31.12.2017

6

TRAN-1

30.09.2017

31.12.2017 (One-time option of revision also to be given till this date)